Gilead set to acquire German biotech firm MYR in about €1.15billion deal

Gilead Sciences Inc pharmaceutical company is seen in Oceanside, California, U.S.

Gilead Sciences Inc said on Thursday it will acquire German biotech company MYR GmbH for about 1.15 billion euros (an equivalent of $1.39 billion) in cash.

The deal, which will also include a potential future milestone payment of up to 300 million euros, will give Gilead access to Hepcludex, MYR’s treatment for chronic hepatitis delta virus, or HDV, infection.

Hepcludex was conditionally approved by the European Medicines Agency in July.

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